Hartman Motors has $19 million in assets, which were financed with $7.6 million of debt and $11.4 million in equity. Hartman's beta is currently 1.15, and its tax rate is 40%. Use the Hamada equation to find Hartman's unlevered beta, bU. Do not round intermediate calculations. Round your answer to two decimal places.

bU =

Explanation:

The Hamada equation is given as:

given that:

= 1.15, T = tax rate = 40% = 0.04, equity = $11.4 million, debt = $7.6 million.

The debt to equity ratio D / E = debt / equity = $7.6 million / $11.4 million = 0.67

Substituting values:

i would say a penny hope it you

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